WASHINGTON: Deputy Attorney General of the United States Lisa Monaco on Wednesday revealed two new enforcement initiatives aimed at targeting Cryptocurrency and government contractors who failed to report cyber violations.
Monaco announced on Wednesday, during a virtual speech at the Aspen Cyber Summit, the launch of the national cryptocurrency enforcement team, whose purpose was “strengthening” the ability of the Ministry of Justice to disable financial markets that allow cyber culture “developing.” The group will include a mixture of anti-money laundering and cybersecurity experts.
“Cryptocurrency exchanges want to be a future bank, well we need to make sure that people can have confidence when they use this system and we need to be ready to do abuse,” Monaco said.
“The point is to protect consumers.” Cybercriminals that attack companies with ransomware, types of malware that encrypts the system and demanding payments, usually paid in the cryptocurrency.
Hackers often use a mixture of different Cryptocurrency services to receive and transfer this payment, helping to hide it from law enforcement.
Monaco also announced the creation of civil cyber fraud initiatives, which will “use civil law enforcement tools to pursue companies, those who are government contractors, who receive federal funds, when they fail to follow the recommended Cybersecurity standard.” “Too long, the company has chosen silence under the wrong trust that it is less at risk of hiding a violation rather than bringing it forward and report it.
It changed today,” Monaco said.
The announcement came after several Cyberattack high profile earlier this year against the company A.S.
and government institutions.
Cybercriminal Attacking Pipe Operator A.S.
Major, caused local gas shortages along the US east coast in May.
The incident led to the new Cybersecurity rule for pipe owners in July.
US Dept Justice Launches New Initiative About Cryptocurrency, Contractor Hacking
